See Lobel, Proc. British Academy xxxv. 1 ff., June 1950.

I. col. ii. 1. γυ[ ]… εῖδον [ο]ὐκ εἴκαсμ⋯ τι

εἰκ⋯сματι = εἰκαсμ⋯ι, ‘by guessing’, seems at least as likely as εἴκαсμ⋯ τι = εἴδωλ⋯ν τι ‘[At first I could not make out who or what it was: but when] I saw Gyges [clearly,] not by guesswork, I was afraid of a plot for murder.’ For example:

ΓΓ[γην сαϕ⋯][εἰ]εῖδον, [ο]ὐκ εἰκ⋯сματι, κτλ.

For the relation of εἴκαсμα to εἰκ⋯ζω, cf. κ⋯λαсμα, κ⋯μπαсμα, ὕβριсμα, etc.